Pandemic-fueled e-commerce boom blasts SellersFunding of Weston to new levels of growth
In 2021, Amazon accounted for 56.7% of U.S. e-commerce sales . But typically Amazon is just providing the marketplace in which a patchwork of 9.7 million sellers from around the world peddle their wares .
The market is clearly large – and growing. Still, however, there is a major problem in the industry: access to capital.
Traditional financial institutions have trouble assessing these sellers’ businesses to provide them with a loan. Sometimes sellers end up turning to unsavory merchant cash advance companies that charge rates that are significantly above market average.
Weston-based SellersFunding offers an alternative approach. They are an all-in-one financial platform to help provide growing ecommerce merchants with quick and easy access to working capital. With SellersFunding, eCommerce businesses can get up to $5 million in as short as 48 hours, without their credit score taking a hit. The platform connects to 10 eCommerce platforms, including Amazon. They have a proprietary system, which includes AI models, to vet eCommerce businesses.
An infusion of cash can be critical in a seller keeping their competitive edge. For instance, SellersFunding’s speedy loan process helps compensate for lengthy, pandemic-induced supply chain and shipping issues that are rampant in the industry these days. Often these sellers use the capital they borrow for inventory purchases.
Another example: advertising spending. “We like to lend to companies that have a big budget for advertising spending because that means that they are building a brand and building a business,” Ricardo Pero, SellersFunding founder and CEO, told Refresh Miami .
“We usually see that companies with high advertising spending have higher profitability margins in the long term than companies that don’t spend as much there,” Pero continued. Ricardo Pero, Founder and CEO of SellersFunding On top of these loans SellersFunding also offers a series of auxiliary financial products such as prepaid business […]
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